Finance Minister Pranab Mukherjee asked Public Sector Banks, PSBs to improve customer service to stay relevant in the competitive financial market. Mr. Mukherjee said this while addressing at the golden jubille celebration of State Bank Staff College in Gurgaon. He said that banking is predominately a customer oriented business and good customer service is the key to banks growth and stability. 

Mr Mukherjee said, in view of the growing customer awareness, banks would be required to gear up for providing more efficient and cost effective services leveraging the technological capabilities. Indicating that the human capital deficit is one of the major challenges for the public sector banks, Mr. Mukherjee said, manpower policy planning and human resource development are among the measure key areas for our PSBs today. 

He said that the government has recently requested the chiefs of the PSBs to prepare their respective human resource management plans, keeping in view the decisions taken on the recommendations of the Khandelwal committee report on the Human Resource issues.